all of the following are restaurant market segments except

Take toothpaste, for example. Keep in mind that although you might be able to isolate a segment in the marketplace, including one based on family life cycle, you cant make assumptions about what the people in it will want. In the United States, the Harry Potter series of books were often at the top of The New York Times fiction bestseller list. Some of the ways in which people use the product are pretty unusual, as evidenced by the following comment posted on the site: I have a hedgehog who likes to run on his wheel a lot. group products to be sold into categories. Hill, B. J., Carey McDonald, and Muzzafer Uysal, Resort Motivations for Different Family Life Cycle Stages, Visions in Leisure and Business Number 8, no. A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________. All of the following are market segmentation strategies EXCEPT: When compared to a multiple products, multiple market segments strategy, a one product, multiple market segment strategy. In the Apple market-product grid shown above for its computer line, the "individuals" consumer segment seems willing to purchase each item in Apples product line. A) service seekers B) value seekers C) portion seekers D) atmosphere seekers 1) 2) The commercial raising of shrimp, salmon, and oysters is called ________. Your assignment at work is to divide buyers into different groups based on social class, lifestyle, and personality characteristics. It allows them to identify with your brand and feel like you are an advocate for their needs, which makes them more likely to do business with you over longer periods. Nearly 70 percent of Hispanics in the United States trace their lineage to Mexico; others trace theirs to Central America, South America, and the Caribbean. ChoiceShirts is an online company that makes made-to-order T-shirts. All of the following are psychographic segmentation variables EXCEPT: The place a product occupies in consumers minds on important attributes relative to competitive products is referred to as. For example, Goya Foods is a U.S. food company that sells different ethnic products to grocery stores, depending on the demographic groups the stores serveHispanic, Mexican, or Spanish. Ford manufactures SUVs for those who wish to carry lots of people and pickup trucks for those who wish to carry lots of cargo. To market to Scion drivers, who are generally younger, Toyota created Scion Speak, a social networking site where they can communicate, socialize, and view cool new models of the car. You wouldn't want to spend your time and money making sure your campaigns also make sense to seniorsthat would be a waste. http://web.archive.org/web/20110426194400/http://www.bk.com/en/us/campaigns/subservient-chicken.html. Frequency marketing is a strategy that focuses on usage rate. P&G is using which type of segmentation variable? A firm will often use multiple segmentation bases, or criteria to classify buyers, to get a fuller picture of its customers and create real value for them. Income targeting lets you measure the buying power of your audience. Generations and Characteristics, Table 5.3 Major U.S. If you develop fitness programs and know that a majority of your clients prefer the same type of program to be released, youre more likely to make that happen. The process of segmenting a market and selecting specific segments as targets is the link between _____ and the organizations marketing program. Click the card to flip . Click the card to flip . Berkowitz, E. N., The Essentials of Health Care Marketing, 2nd ed. Which segmentation base and associated variable (s) should you use? Kelloggs different cereals are each targeted at a different type of user. If a business firm goes to the trouble and expense of segmenting its markets, it expects to increase its sales, profits, and return on investment. Both companies advertise globally, but localize their campaigns for each country, too. Marketing professionals develop consumer insight when they gather both quantitative and qualitative information about their customers. Different factors influence consumers to buy certain things. Marketing 3000 CH 8. Ethnic Segments and Their Spending contains information about the number of people in these groups and their buying power. Get Your Free Copy of Our 2020 Personalization Guide. c.personal characteristics. 111.Segmentation based on where prospective customers live or work is referred to as. The advertising message was that using applesauce in baking cuts calories and also makes the resulting baked good healthier. Last Human Getaway Hedgehog CC BY-NC-ND 2.0. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. So which group or groups should your firm target? Donnelly, J. H., preface to Marketing Management, 9th ed., by J. Paul Peter (New York: McGraw-Hill Professional, 2002), 79. Virgin Mobile is helping stores capitalize on proximity marketing by sending text messages to Virgin Mobile users when they opt to receive them. performing organizational functions more efficiently. Peoples ethnic backgrounds have a big impact on what they buy. When Procter & Gamble introduced Crest toothpaste, the first fluoride toothpaste, it was intended for use by children and was therefore given a child-appealing bubblegum flavor. Shein has the right idea with their Facebook ad: They created this ad specifically for women (hence the womens swimsuits and the for women in the description). Often these common traits can help businesses understand driving behaviors, factors, and variables that can be recreated to encourage potential buyers (or existing customers) to buy a product or service. Now were both GLAD!. Sushi Friend. 7. demographic, psychographic, and geographic. there were no coherent product lines targeted at identifiable market segments. FOR COMPETITIVE ADVANTAGE MULTIPLE CHOICE QUESTIONS 1. Choose the one alternative that best completes the statement or answers the question. Many markets are segmented based on peoples family life cycle needs. Billboards outside stores tell Virgin Mobile users to switch your Bluetooth on to get free stuff here! (Who wouldnt want free stuff?). Psychographic segmentation seeks to differentiate buyers based on their activities, interests, opinions, attitudes, values, and lifestyles. This is an example of, Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin. 4U.S. 93% (54) Criteria for forming segments involve both similarities and differences. Thus, a country music event in eastern Canada is very likely to have lots of empty seats even though it is more populous than the western part of the country. An analysis of the pillow market using a market-product grid suggests that the most important segment to target is, When a new product or a new chain steals customers and sales from older existing ones, it is referred to as, Figure 9-9 above shows the market-product grid for a Wendys restaurant next to a large urban university campus. Before you open the store, you will probably want to do some research to determine which geographical areas have the best potential. The purpose of the five key steps in segmenting and targeting markets is to. Variables such as location, the North American Industry Classification System (NAICS) code, and type of buy are all examples of ways to, The second step in segmenting and targeting markets that link customer needs to marketing actions is to. Another way in which businesses segment buyers is by their usage ratesthat is, how often, if ever, they use certain products. Advergames are electronic games sellers create to promote a product or service. With respect to pillows, what would be the most effective way to segment the pillow market? Procter & Gamble (P&G) decided to skip a generation of consumers when it began to market Old Spice deodorant. This company is now struggling to stay in business. When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids . Companies have to develop new products designed to appeal to Generations X and Y and also find new ways to reach them. And a personalized, targeted approach is essential to effectively manage your advertising spending. For example, the group of potential consumers for cereal could be almost everyone although groups of people may have different needs with regard to their cereal. Notice that the characteristics fall into one of four segmentation categories: behavioral, demographic, geographic, or psychographic. Market segmentation is the process of dividing a market of potential customers into groups or segments based on different characteristics important to you. High energy costs, the credit crunch, and concern for the environment are leading people to demand smaller houses. creates greater cost savings in manufacturing costs. Segmentation bases are criteria used to classify buyers. They tend to have distinct ways of speaking and often spend their time on separate platforms. Which of the following statements best illustrates geographic segmentation? Segmenting buyers by personal characteristics such as their age, income, ethnicity, family size, and so forth is called demographic segmentation. a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand. All the buyers in the entire market have similar wants and needs. With the tremendous increase in international business and global advertising brings an increase in segmentation based on ethnicity, race, nationality, and religion. quantity consumed or patronage (store visits) during a specific period. Within a segment, the needs of potential buyers should be similar; among segments, the needs of buyers should be different. Which of the following statements regarding segmentation bases is MOST ACCURATE? is incompatible with its companys goals or objectives. Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as, ChoiceShirts is an online company that makes made-to-order T-shirts. changing the place an offering occupies in consumers' minds relative to competitive products. Consumer insight is what results when you use both types of information. \hline 2 & 5 \\ Which of the following is a criterion used for selecting a target market? b.importance of purchase. not be worth doing since its market size is very small. To attract people such as these, D. R. Horton, the nations leading homebuilder, and other construction firms are now building smaller homes. b. user status. Marketing professionals believe they appealed to baby boomers because they reminded them of better timestimes when they didnt have to worry about being laid off, about losing their homes, or about their retirement funds and pensions drying up. Many of the same bases used to segment consumer markets are also used to segment B2B markets. One advantage of a market-product grid is that it can be used to. Family makeup can be instrumental in segmentation because when a familys dynamic changes, its needs and desires often do too. Within a segment, the needs of potential buyers should be similar; among segments, the needs of buyers should be different. One should segment this market by. By contrast, smaller customers are more likely to have to rely on a firms Web site, customer service people, and salespeople who call on them by telephone. Which segmentation base did these organizations use most? All of the following are criterion used for selecting target market segments EXCEPT: simplicity and cost of assigning potential buyers to segments. creates greater savings in production costs. Am I looking at the consumers the way they see themselves? \hline Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer, 59. The periodic In California, the health care provider Kaiser Permanente runs television ads letting members of this segment know that they can request Spanish-speaking physicians and that Spanish-speaking nurses, telephone operators, and translators are available at all of its clinics (Berkowitz, 2006). Table 5.4 An Example of Geodemographic Segmentation for 76137 (Fort Worth, TX) shows the profiles of buyers who can be found the zip code 76137the Brite Lites, Lil City bunch, and Home Sweet Home set. When a new product or a new retail chain steals customers and sales from older existing ones of an organization, this is referred to as. Big-and-tall stores cater to the segment of population thats larger sized. S. Maranto's Italian Bar & Market. A key to positioning a product or brand effectively is discovering the perceptions of its potential customers. Best Foods Company is considering expanding beyond the regional market segments now served by its Hellmanns mayonnaise. There are all kinds of characteristics you can use to slice and dice a market. Men and women have different needs and also shop differently. In this example, Post is using which segmentation variable? The Starwood hotel chains W hotels, which feature contemporary designs and hip bars, are aimed at Generation Xers (Miller, 2009). For instance, few men apply makeup, and most women dont wear boxers. \hline \boldsymbol{X} & \text { Frequency } \\ The first step in segmenting and targeting markets that links customer needs to marketing actions is to group potential buyers into segments. X1234567Frequency258121201. What two types of information do market researchers gather to develop consumer insight. True. The fastest-growing product in the financial services sector is prepaid debit cards, most of which are being bought and used by people who dont have bank accounts. grouping people according to similar needs. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's sales revenues and profits, doesn't reduce quality or increase price, and, 59. maximizes the opportunity for future profit and ROI. Companies are interested in frequent users because they want to reach other people like them. Its also why businesses print codes on coupons that correspond to zip codes. al., 1990). In addition to segmenting by gender, market researchers might couple gender with marital status and other demographic characteristics. Despite the challenges U.S. automakers face today, they have taken great pains to cater to the younger generationtodays baby boomers who dont think of themselves as being old. 2.2 Components of the Strategic Planning Process, 2.3 Developing Organizational Objectives and Formulating Strategies, 2.4 Where Strategic Planning Occurs within Firms, 2.5 Strategic Portfolio Planning Approaches, 3.1 Factors That Influence Consumers Buying Behavior, 3.2 Low-Involvement Versus High-Involvement Buying Decisions and the Consumers Decision-Making Process, 4.1 The Characteristics of Business-to-Business (B2B) Markets, 4.4 Stages in the B2B Buying Process and B2B Buying Situations, 4.5 International B2B Markets and E-commerce, 5.1 Targeted Marketing versus Mass Marketing, 5.3 Selecting Target Markets and Target-Market Strategies, 5.4 Positioning and Repositioning Offerings, 6.3 Types of Business-to-Business (B2B) Offerings, 7.2 Managing New Products: The Product Life Cycle, 8.1 Marketing Channels and Channel Partners, 8.3 Functions Performed by Channel Partners, 9.2 Demand Planning and Inventory Control, 9.4 Track and Trace Systems and Reverse Logistics, 10.2 Steps in the Marketing Research Process, 11.1 Integrated Marketing Communications (IMC), 11.3 Factors Influencing the Promotion Mix, Communication Process, and Message Problems, 12.1 Public Relations Activities and Tools, 13.1 The Role Professional Salespeople Play, 13.2 Customer Relationships and Selling Strategies, 13.4 Ethics in Sales and Sales Management, 14.4 Ethics, Laws, and Customer Empowerment, 15.1 The Pricing Framework and a Firms Pricing Objectives, 15.2 Factors That Affect Pricing Decisions, 16.4 Ongoing Marketing Planning and Evaluation. simplicity and cost of assigning potential buyers to segments. Product features and usage rate are both variables used to employ __________ segmentation. The first step in segmenting and targeting markets that link customer needs to marketing actions is to. James Beard Foundation award winner, co-owner and Chef at FnB, Charleen Badman, is a vegetable whisperer. inventory system is used. A market-product grid is a framework to relate. The identification of demographic variables is more objective than the identification of psychographic variables, which is more subjective. When developing a new breakfast menu, Wendys had to consider not only the offerings of Burger King and McDonalds but also the. Manufacturing a product only when there is an order from a customer is referred to as. The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program. C The identification of psychographic variables is more objective than the identification of demographic, 216.The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as, Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as. This strategy is an example of, A business firm segments its markets when this strategy increases its sales revenue, profit, and ROI. 7 (2007): 40618. Thus, venues segmentation is a form of __________ segmentation. This could impact both their response to marketing and their buying habits. Many of the same factors can also be used to segment customers. Intuit, the company that makes the tax software Quicken, has a follow me home program. discover where the companys product or brand is on these attributes in the minds of potential customers. Its aimed at us adults! The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as. Firms are finding that this group is a large, untapped pool of customers who tend to be more brand loyal than most. Differentiation positioning requires a product to. Companies are going to great lengths to court this once overlooked group. In determining its positioning in the minds of customers, companies take four steps: (1) identify the important attributes for the product or brand class; (2) discover how target customers rate competing products or brands with respect to these attributes; (3) ___________; and (4) reposition the companys product or brand in the minds of potential customers. She is now thinking of trading him in for a hedgehog.). What interests a single, 18-year-old college freshman will be utterly different from what attracts a 45-year-old attorney whos married with children. A well-executed market segment strategy provides a firm with all of the following EXCEPT: a. develops a clearer focus on market strategy. Consequently, one obvious way to begin the segmentation process is to segment markets into these two types of groups. Segmentation based on where prospective customers live or work is referred to as, Alamo, a car rental firm, targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year. There are five steps involved in segmenting and targeting markets. \hline 1 & 2 \\ Without market segmentation, you risk treating everyone as the same. The market segments should be heterogeneous. (Sudbury, MA: Jones & Bartlett Publishers, 2006), 13. Research has found that women who are solely homemakers tend to spend more money, perhaps because they have more time. Automobile companies may segment markets based on income, age, social class, and gender. \hline 4 & 12 \\ Type in your zip code, and you will see customer profiles of the types of buyers who live in your area. In addition to current statistics, the sites contain forecasts of demographic trends, such as whether some segments of the population are expected to grow or decline. Not only do age groups and generations differ in their buying habits, but also in how they respond to advertising. If increased revenues don't offset extra costs of this action, a marketer should __________. Demographic segmentation is used for targeting specific audiences. Personal selling. The intent is to reach highly-relevant accounts with the most revenue potential, so knowing occupation is integral. E. Procter & Gamble adds a new line of baby clothing to its Pamper's stable of products. Suppose your great new product or service idea involves opening a local store. Men and women generally have different likes, dislikes, needs, and thought processes. Next, we choose which of those segments to target. This is an example of __________ segmentation. Which of the following statements demonstrate the formation of a segment based on household size? not consider market segmentation at this time. For instance, if your business is a high-end restaurant, should it be located near the local college or country club? ppp is in dollars and qqq is the number of units. According to the Apple market-product grid above, Apple would most likely get the LEAST market synergies from. Michigans biggest travel segment are Chicagoans in certain zip codes consisting of upper-middle-class households with childrenor the kids in cul-de-sacs group, as Claritas puts it. Market segmentation is the process of grouping buyers together based on their attributes. d.structure of decision-making unit. a more adult-oriented beverage than sports drinks. When a telemarketer calls to sell a consumer life insurance, the last questions asked is what category does the persons household income fall into (less than $50,000; $50,000 to $99,999; and $100,000 and over). Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as, aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action, A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can, Market segmentation involves aggregating prospective buyers into groups that __________ and will respond similarly to a marketing action, Market segmentation involves aggregating prospective buyers into groups that have common needs and will.

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